Lawmakers, Educators Urge Congress to Cancel Student Loan Debt

Student loan debt is a major concern for recent college grads, and even not so recent ones. Across the country, borrowers owe nearly $1.6 trillion, and some lawmakers say that is hurting other sectors of the economy because it makes it harder for people to do things like own a home. And if there are fewer home buyers, that makes it hard to sell a home. That is just one example. Assemblyman Ron Kim and professor Robert Hockett of Cornell University are calling for a national cancellation of student debt.